Midland States Bancorp (NASDAQ:MSBI) PT Lowered to $24.50 at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its price target lowered by Piper Sandler from $26.00 to $24.50 in a report published on Tuesday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Midland States Bancorp Trading Down 0.3 %

MSBI stock opened at $23.75 on Tuesday. The company’s 50-day simple moving average is $23.94 and its 200-day simple moving average is $24.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.91. Midland States Bancorp has a 52-week low of $17.98 and a 52-week high of $28.47. The firm has a market cap of $518.94 million, a P/E ratio of 8.08 and a beta of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.18). Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. The firm had revenue of $122.86 million for the quarter, compared to analysts’ expectations of $75.05 million. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, equities analysts forecast that Midland States Bancorp will post 2.79 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were paid a $0.31 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 5.22%. Midland States Bancorp’s dividend payout ratio (DPR) is currently 42.18%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Midland States Bancorp by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock valued at $37,811,000 after buying an additional 37,813 shares in the last quarter. Vanguard Group Inc. lifted its stake in Midland States Bancorp by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock valued at $22,815,000 after buying an additional 7,132 shares in the last quarter. AQR Capital Management LLC lifted its stake in Midland States Bancorp by 27.5% in the 3rd quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock valued at $5,147,000 after buying an additional 54,090 shares in the last quarter. American Century Companies Inc. lifted its stake in Midland States Bancorp by 11.3% in the 3rd quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock valued at $4,916,000 after buying an additional 24,320 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Midland States Bancorp by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock valued at $3,826,000 after buying an additional 3,154 shares in the last quarter. 60.93% of the stock is owned by hedge funds and other institutional investors.

About Midland States Bancorp

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.